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Macroeconomic policy and elections: Theories and challenges

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  • Marco E. Terrones

    (GRADE)

Abstract

This paper reviews recent developments in the literature of economic policy-making. It focuses in particular on the relation between elections and macroeconomic policy. It should also be noted that in spite of tremendous advances in the area, there are still many important unresolved issues. In particular, both the normative and empirical areas are the ones in most urgent need study.

Suggested Citation

  • Marco E. Terrones, 1991. "Macroeconomic policy and elections: Theories and challenges," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 6(2), pages 173-195.
  • Handle: RePEc:emx:esteco:v:6:y:1991:i:2:p:173-195
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    File URL: http://estudioseconomicos.colmex.mx/archivo/EstudiosEconomicos1991/173-195.pdf
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    1. Willem H. Buiter & Marcus Miller, 1983. "Real Exchange Rate Overshooting and the Output Cost of Bringing Down Inflation: Some Further Results," NBER Chapters,in: Exchange Rates and International Macroeconomics, pages 317-368 National Bureau of Economic Research, Inc.
    2. Alesina, Alberto, 1987. "Macroeconomic Policy in a Two-party System as a Repeated Game," Scholarly Articles 4552531, Harvard University Department of Economics.
    3. Alberto Alesina, 1987. "Macroeconomic Policy in a Two-Party System as a Repeated Game," The Quarterly Journal of Economics, Oxford University Press, vol. 102(3), pages 651-678.
    4. Terrones, M.E., 1989. "Macroeconomic Policy Cycles Under Alternative Electoral Structures," UWO Department of Economics Working Papers 8905, University of Western Ontario, Department of Economics.
    5. Rogoff, Kenneth, 1985. "Can international monetary policy cooperation be counterproductive?," Journal of International Economics, Elsevier, vol. 18(3-4), pages 199-217, May.
    6. Takatoshi Ito, 1989. "Endogenous Election Timings and Political Business Cycles in Japan," NBER Working Papers 3128, National Bureau of Economic Research, Inc.
    7. Cukierman, Alex & Meltzer, Allan H, 1986. "A Positive Theory of Discretionary Policy, the Cost of Democratic Government and the Benefits of a Constitution," Economic Inquiry, Western Economic Association International, vol. 24(3), pages 367-388, July.
    8. repec:cup:apsrev:v:82:y:1988:i:02:p:467-490_08 is not listed on IDEAS
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